NEW YORK (Reuters) - U.S. hotel heiress Paris Hilton's potential inheritance dramatically diminished after her grandfather Barron Hilton announced plans on Wednesday to donate 97 percent of his $2.3 billion (1.16 billion pounds) fortune to charity.

That wealth includes $1.2 billion Barron Hilton stands to earn from both the recent sale of Hilton Hotels Corp. -- started by his father Conrad in 1919 when he bought a small hotel in Cisco, Texas -- and pending sale of the world's biggest casino company, Harrah's Entertainment Inc.

That money will be placed in a charitable trust that will eventually benefit the Conrad N. Hilton Foundation, raising its total value to about $4.5 billion, the foundation said in a statement.

Barron Hilton, chairman of the foundation, intends "to contribute 97 percent of his entire net worth, estimated today at $2.3 billion, including the created trusts, at whatever value it is at the time of his passing," the foundation said.

Paris Hilton was not immediately available for comment on her grandfather's plans for his fortune.

Jerry Oppenheimer, who profiled the Hilton family in his 2006 book "House of Hilton," has said Barron Hilton is embarrassed by the behaviour of his socialite granddaughter Paris and believes it has sullied the family name....

Maybe Poor Paris will run for political office...she's right at the intellectual level that seems to appeal to the American public nowadays...and her morals are right on target, too, especially if she ran as a Rethug.

_________________

"Behind every great fortune lies a great crime."Honore de Balzac

"Democrats work to help people who need help. That other party, they work for people who don't need help. That's all there is to it."~Harry S. Truman

The super rich have been hiding their money in foundations for decades. All of the billionairres do it I think.

This makes Paris less attractive to lawsuits and such.

The system uses people like Britney and Paris to keep the public from focusing on their white collar crime business netting almost a trillion $$$/year. Give or take.

_________________"If the people allow private banks to control their currency the banks and corporations will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson